Hints and tips:
...He sees compelling buying opportunities in high-yield bonds, distressed debt, leveraged loans, mortgage-backed securities and collateralised loan obligations that are Oaktree’s bread and butter....
...The Paces were among 10,507 borrowers whose home loans Countrywide packed into a set of securities called the CWABS Asset-Backed Certificates Trust 2005-11....
...Back then, to avoid bankruptcy, the latest in a series of weak coalition governments had no choice but to accept long-overdue but painful reforms....
...The UK’s record sale will create a new asset class in Britain backed by income-contingent loans....
...Mortgages, packaged into asset-backed securities, were sold to off-balance sheet bank SIVs financed by short-term loans from money market funds....
...The funds were in- vested heavily in U.S. home-mortgage-backed securities that had become nearly impossible to value....
...funds ordinary uses such as home mortgages, fixed assets, or other big personal expenses, critics say....
...completed buildings, as opposed to loans for “off-plan” property investments....
...supported the market for asset-backed securities, such as those backed by auto loans, credit card loans, small business loans, and student loans....
...B&B sold off John Charcol, its mortgage adviser, among other businesses, in 2004 and it acquired a series of mortgage books....
...Most structured bonds are collections of mortgage loans. The first mortgage-backed bonds were created in the late 1980s, well before Clarkson’s time, by a trader called “Lewie” Ranieri....
...The team would use WestLB’s financial muscle as a state-owned group to finance the acquisitions with securitised bonds that were backed by income from the future cash flow of the acquired assets....
...The homeowners allege that sales agents misrepresented their personal data, including assets and income, to help them qualify for government-insured mortgages starting in 2002....
...The bank decided to further exploit its new-found knowledge in 2002, when it set up Rhineland Funding, an investment vehicle designed to buy asset-backed structured finance products such as collateralised...
...To what extent the subprime mortgage crisis will affect the way rating agencies assign best AAA ratings to asset backed securities?...
...We feel sub-segments of the corporate backed CDO market might prove attractive to those fleeing the asset backed world. ………………………………………………………………………………………………………………………….....
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